Yojee Ltd raised funds through share placement

Raised funds through share placement: Yojee Ltd.’s (ASX: YOJ) stock plunged 3.8% on July 16, 2018 though the company raised $8 million through share placement to institutional investors, for which the company planned to issue 80 million shares at the rate of $0.10 per share. The placement of shares will be completed on 23 July 2018. The funds raised will be used to build Asia Pacific market, increase the leaderships in the areas like artificial intelligence, blockchain and expand logistic network interconnectivity and geographical presence. Additionally, the placement of shares includes the issue of 26,666,667 free attaching 1 for 3 unlisted options to be exercised at $0.15, expiring 18 months from the date of issue. YOJ stock was in trading halt due to fund raising and started trading from today. Meanwhile YOJ stock has fallen 18.75% in three months as on July 13, 2018. Overall, the company has seen some impact from the fall in the cryptocurrencies market.


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